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ND SB2104
Bill
Status
Introduced
1/3/2019
Primary Sponsor
Finance and Taxation Committee
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AI Summary
- Increases the first deposit of biennial oil and gas tax revenues into the state general fund from $500 million to $1.2 billion
- Removes the temporary provision that directed $500 million into the general fund for the period August 1, 2017 through July 31, 2019, replacing it with a permanent $1.2 billion allocation
- Maintains deposits of $200 million to the tax relief fund and $75 million to the budget stabilization fund in the deposit priority order
- Keeps the allocation of $100 million with 80% going to the strategic investment and improvements fund and 20% to the lignite research fund until $3 million is deposited for advanced energy technology grants
- Becomes effective for tax collections received by the tax commissioner after June 30, 2019
Legislative Description
The state's share of oil and gas taxes; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 3 nays 42
1/31/2019
Committee Referrals
Finance and Taxation1/3/2019
Full Bill Text
No bill text available